federal savings bank
- noun
- /ˈfɛdərəl ˈseɪvɪŋz bæŋk/
- Specialized
:
banco de ahorros federal
- Many people trust their money in a federal savings bank because it offers federal insurance on deposits.
Examples
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She opened a savings account at the local federal savings bank to secure her savings.
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Following the new regulations, the federal savings bank assured its customers that their funds are safe and insured.
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Earlier this year, the Board of Governors issued an order approving Capital One Financial Corporation's acquisition of a federal savings bank, ING Bank.
Blog text (10)
Synonyms
A savings bank licensed by the federal government in the United States
How Large
1
4.6
- Specialized
4
3.1
- Specialized
- Specialized
1
2.7
Surface Forms
Morphology
The phrase is a straightforward compound of 'federal' (connected to the central government) + 'savings' (saved funds) + 'bank' (financial institution), so its meaning — a savings bank associated with the federal government — is directly derivable from the parts. While detailed legal distinctions (federal vs. state charter) are specialist knowledge, an average B1 learner who knows the constituent words will grasp the general sense.
Etymology
The term federal savings bank combines federal, meaning the national government, and savings bank, a bank where people keep their savings. So, it means a bank 'set up by the national government' that often 'gives extra protection to people who put money in the bank'.